Joint Ventures

-On June 13, 2012, Guangzhou GACC Ogihara Dies Co., Ltd. held a ceremony to celebrate the operation launch of its new stamping line B and stamping line C on June 13, 2012. The company spent a year and a half for the expansion project, from manufacture of the stamping equipment to installation. The addition has increased the company’s yearly production capacity to parts for 200,000 vehicles a year. (From a press release, September 27, 2012)

-Guangzhou GACC Ogihara Dies Co., Ltd., a joint venture company between Guangzhou Automobile Group Component Co., Ltd. and Ogihara Corporation, will develop and supply components for the 2014 Odyssey as a first grade supplier of Guangqi Honda. The supply agreement follows new program businesses it already won from GAC Passenger Vehicles and GAC Mitsubishi. (From a press release, September 27, 2012)

-Stanley Electric Co., Ltd. announced that it has established a new company Wuhan Stanley Electric Co., Ltd. in Wuhan, Hubei province, China. The new company develops, produces and sells automotive lighting products, electronic devices and molds. The new plant will cover approximately 32,000 square meters. Completion of the plant is expected in January 2013. The new company, capitalized at 30 million USD, is owned 50% by Guangzhou Stanley Electric Co., Ltd., 35% by Stanley Electric (China) Investment Co., Ltd. and 15% by the Company. The annual sales for 2014 are estimated to be approximately 8.5 billion yen. (From a press release on November 28, 2011)

-Cosma International, an operating unit of Magna International Inc. and an automotive body and chassis system supplier, announced that it has established a joint venture in China with the Company. The new joint venture, which will be named Changsha Cosma Automotive, will be located in Changsha City, Hunan Province, China. The JV partners plan to establish a manufacturing facility there that will employ 500 to 600 people at full capacity and will produce major body and chassis components and structural assemblies. Construction of the facility will begin in 2011 with start of production targeted for 2012. The first products to be manufactured at the facility will be for a GAC-Fiat vehicle program. (From a press release on May 10, 2011)

DDCT systems for FIAT

-Hangzhou Haveco Transmission Technology Co., Ltd., a joint venture company established by the Company., Fiat, and Hangzhou Advance Gearbox Group Co., Ltd., will manufacture dual dry clutch transmissions (DDCT) systems for Fiat. The three parent companies agreed that the joint venture will invest 2,269 million yuan to introduce necessary technology from Fiat and increase production capacity. Production of the DDCT systems will start in 2013 with a target of manufacturing 500,000 units per year in the future. (From news releases issued by multiple sources on June 7, 2011)

New plant

-The Company has launched construction of a new plant in Changsha, Hunan Province. The facility will have production lines to manufacture vehicle components for both GAC Changfeng Motor and Guangqi Fiat. (From a press release, November 22, 2010)

Acquisition

-In March 2010, the Company conducted the acquisition of 45% of shareholdings in GAC-QH (Meizhou) Auto Electric Co., Ltd. at a cash consideration of RMB40,500,000. Its main business includes the production of automotive generators and starters and the acquisition has been completed.（From the GAC group's 2010 annual report）

Products Development

-Hangzhou Haveco Transmission Technology Co., Ltd., a joint venture company established by the Company., Fiat, and Hangzhou Advance Gearbox Group Co., Ltd., will manufacture dual dry clutch transmissions (DDCT) systems for Fiat. The three parent companies agreed that the joint venture will invest 2,269 million yuan to introduce necessary technology from Fiat and increase production capacity. Production of the DDCT systems will start in 2013 with a target of manufacturing 500,000 units per year in the future. (From news releases issued by multiple sources on June 7, 2011)